Motor Vehicles: Insurance

HM Treasury written question – answered on 2nd July 2015.

Alert me about debates like this

Photo of Sir David Amess Sir David Amess Conservative, Southend West

To ask Mr Chancellor of the Exchequer, what assessment he has made of trends in competition and switching rates in the private motor insurance market in each year since 2010; and if he will make a statement.

Photo of Sir David Amess Sir David Amess Conservative, Southend West

To ask Mr Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the cost to consumers of private motor insurance auto-renewals.

Photo of Sir David Amess Sir David Amess Conservative, Southend West

To ask Mr Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the effect of auto-renewals on competition in the private motor insurance market.

Photo of Sir David Amess Sir David Amess Conservative, Southend West

To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect of clearer renewal notices on the competitiveness of the private motor insurance market; and whether he has had discussions with insurance companies on that matter.

Photo of Sir David Amess Sir David Amess Conservative, Southend West

To ask Mr Chancellor of the Exchequer, if he will estimate the average savings available from switching car insurance provider rather than being auto-renewed for (a) all consumers, (b) consumers aged over 65 and (c) consumers without internet access.

Photo of Sir David Amess Sir David Amess Conservative, Southend West

To ask Mr Chancellor of the Exchequer, if he will estimate the average savings available to customers by switching car insurance provider rather than being auto-renewed in (a) the UK, (b) South East England and (c) Southend West constituency.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

This is a matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.

The question has been passed on to the FCA. The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.